Franklin Joshva
![ITAT Rules Abandoned IPO Expenses as Revenue in Nature, Deletes Disallowance u/s 37(1) [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-ITAT-Rules-ITAT-Rules-Abandoned-IPO-Expenses-IPO-Revenue-in-Nature-Deletes-Disallowance-Disallowance-taxscan.jpg "ITAT Rules Abandoned IPO Expenses as Revenue in Nature, Deletes Disallowance u/s 37(1) [Read Order]")
ITAT Rules Abandoned IPO Expenses as Revenue in Nature, Deletes Disallowance u/s 37(1) [Read Order]
The Pune Bench of Income Tax Appellate Tribunal (ITAT) has held that expenses incurred on an abandoned Initial Public Offering (IPO) are revenue in...
![CIT(A) Ex-Parte Adding Rs. 12,06,189 as Undisclosed Income: ITAT directs Fresh Hearing [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/Undisclosed-Income-ITAT-CIT-ITAT-news-Income-tax-income-tax-news-assessment-AO-ITAT-INDIA-ITAT-Jaipur-Taxscan.jpg "CIT(A) Ex-Parte Adding Rs. 12,06,189 as Undisclosed Income: ITAT directs Fresh Hearing [Read Order]")
![Income Tax Order Issued in Deceased Taxpayers Name: ITAT Remands Matter for Fresh Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/Income-Tax-Order-Taxpayers-ITAT-ITAT-Remands-Matter-Fresh-Adjudication-statistical-purposes-ITAT-INDIA-ITAT-NEWS-INCOME-TAX-Income-tax-news-Taxscan.jpg "Income Tax Order Issued in Deceased Taxpayers Name: ITAT Remands Matter for Fresh Adjudication [Read Order]")
![Unexplained Cash Deposit During Demonetization: ITAT Directs AO to Decide using CBDT Circular [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/Unexplained-Cash-ITAT-ITAT-NEWS-INCOME-TAX-INCOME-TAX-NEWS-Assessing-Officer-assessment-AO-Syndicate-Bank-account-assessment-year-Income-Tax-Return-Taxscan.jpg "Unexplained Cash Deposit During Demonetization: ITAT Directs AO to Decide using CBDT Circular [Read Order]")
![AO adds Unexplained Investment During Demonetization: ITAT Rules Addition Based on Suspicion Cannot Be Sustained [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/Unexplained-Investment-Demonetization-ITAT-ITAT-Rules-ITAT-Rules-Addition-Suspicion-Cannot-Be-Sustained-AO-adds-Unexplained-Investment-taxscan.jpg "AO adds Unexplained Investment During Demonetization: ITAT Rules Addition Based on Suspicion Cannot Be Sustained [Read Order]")
AO Disallows Depreciation over Alleged Double Deduction: ITAT directs Taxpayer to Produce Documents [Read Order]
The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) directed the assessee to produce supporting documents after the Assessing Officer (AO) disallowed depreciation over alleged double...
![AO Disallows Depreciation over Alleged Double Deduction: ITAT directs Taxpayer to Produce Documents [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/AO-Depreciation-Deduction-ITAT-Taxpayer-Produce-Documents-taxscan.jpg "AO Disallows Depreciation over Alleged Double Deduction: ITAT directs Taxpayer to Produce Documents [Read Order]")
AO Accepts Taxpayer's ITR Without Reflecting Prior Adjustments Made u/s 143(1): ITAT Deletes Deferred Tax Adjustment [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) deleted the deferred tax adjustment, stating that the Assessing officer (AO) accepted the assessee’s Income Tax Return without any...
![AO Accepts Taxpayers ITR Without Reflecting Prior Adjustments Made u/s 143(1): ITAT Deletes Deferred Tax Adjustment [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-Mumbai-Income-Tax-ITAT-Deletes-AO-Accepts-Income-Tax-Appellate-Tribunal-Assessing-office-taxscan.jpg "AO Accepts Taxpayers ITR Without Reflecting Prior Adjustments Made u/s 143(1): ITAT Deletes Deferred Tax Adjustment [Read Order]")
Section 56(2)(vii)(c)(ii) Not Applicable to Public Ltd Company for Share Allotment in Amalgamation: ITAT [Read Order]
The Rajkot bench of the Income Tax Appellate Tribunal (ITAT) has held that the provisions of Section 56(2)(vii)(c)(ii) of the Income Tax Act, 1961, do not apply to share allotments by public limited...
![Section 56(2)(vii)(c)(ii) Not Applicable to Public Ltd Company for Share Allotment in Amalgamation: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/Amalgamation-ITAT-ITAT-Rajkot-bench-Section-56-Commissioner-of-Income-Tax-INCOME-TAX-ITAT-NEWS-INCOME-TAX-NEWS-Hindu-Undivided-Families-CIT-Taxscan.jpg "Section 56(2)(vii)(c)(ii) Not Applicable to Public Ltd Company for Share Allotment in Amalgamation: ITAT [Read Order]")
ITAT deletes CIT(A)'s Penalty for Non-Audit of Accounts Citing Pending Quantum Assessment Appeal [Read Order]
The Agra Bench of Income Tax Appellate Tribunal (ITAT) has set aside the penalty imposed under Section 271B of the Income Tax Act, 1961, for failure to audit accounts, citing the pendency of the...
![ITAT deletes CIT(A)s Penalty for Non-Audit of Accounts Citing Pending Quantum Assessment Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/Non-Audit.jpg "ITAT deletes CIT(A)s Penalty for Non-Audit of Accounts Citing Pending Quantum Assessment Appeal [Read Order]")
CIT(A) Disposes Matter After 4-Year Gap Without Proper Hearing: ITAT Orders Fresh Adjudication [Read Order]
The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) remanded back for fresh adjudication to the Commissioner of Income Tax (appeals)[CIT(A)] after a delay of four years for disposing of...
![CIT(A) Disposes Matter After 4-Year Gap Without Proper Hearing: ITAT Orders Fresh Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/CITA-CITA-Disposes-Matter-CITA-Disposes-Without-Proper-Hearing-Proper-Hearing-Hearing-ITAT-ITAT-Orders-ITAT-Orders-Fresh-Adjudication-taxscan.jpg "CIT(A) Disposes Matter After 4-Year Gap Without Proper Hearing: ITAT Orders Fresh Adjudication [Read Order]")
AO Erred in Assessing Trust's ₹ 3.30 Crore Interest-Free Loan & Interest Income: ITAT Orders Fresh Reassessment [Read Order]
The Pune bench of Income Tax Appellate Tribunal (ITAT) directed a fresh reassessment due to the Assessing Officer (AO) erred in assessing the assessee trust’s Rs. 3.30 crore Interest-free loan and...
![AO Erred in Assessing Trusts ₹ 3.30 Crore Interest-Free Loan & Interest Income: ITAT Orders Fresh Reassessment [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/AO-Interest-Free-Loan-Interest-Income-ITAT-Reassessment-Assessment-Year-ITAT-news-income-tax-news-income-tax-Fresh-Reassessment-Taxscan.jpg "AO Erred in Assessing Trusts ₹ 3.30 Crore Interest-Free Loan & Interest Income: ITAT Orders Fresh Reassessment [Read Order]")
![Taxpayer Unable to Collect Notice: ITAT Condones 340 Days Delay, Remands S.69A Matter [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/Taxpayer-ITAT-ITAT-Condones-filing-appeal-considering-Income-Tax-Return-AO-Income-tax-Income-tax-news-ITAT-news-ITAT-India-ITR-assessment-Taxscan.jpg "Taxpayer Unable to Collect Notice: ITAT Condones 340 Days Delay, Remands S.69A Matter [Read Order]")